Over 70% of customers abandon their baskets before purchase. As more price-conscious consumers shop online, basket abandonment will rise.
Basket abandonment can be hard to overcome, especially as retailers are constantly adapting their online platforms to fit their customers’ needs. But even after tailoring the shopping journey, The Drum revealed that 70% of online shoppers abandon their online shopping baskets before purchase. Despite this, only 27% of retailers investigate why, by diving deep into their customers’ browsing behaviour.
Is it worth understanding? Without grasping why customers aren’t completing those purchases, your business loses the opportunity to capture those sales and secure that well-deserved revenue. Investing time into your customers’ behaviour gives you the chance to perfect the customer journey, to rightfully yield higher conversions and ROI.
So, if you’re looking for common reasons why customers abandon shopping baskets, we’ve summarised Baymard’s survey results for you to easily digest.
Unexpected Extra Costs
55% of consumers are put off by unexpected extra costs, particularly when the dreaded, delivery fee is added on top of their carefully, calculated basket. Prevent their surrender by keeping shipping prices, tax and the final total price visible.
Pro Tip: Earn your consumer’s trust. Complete transparency helps - particularly when offering flexible delivery options. With ‘click and collect’ or ‘a nominated delivery day’ it demonstrates catering to your customer’s needs, which may encourage them to pay the higher charge.
Forced Sign Ups
31% find creating an account, time consuming. Entering a few simple details can be an inconvenient task for customers, especially when they want to shop quickly. Avoid creating that obstacle, by offering a guest checkout option.
Pro Tip: Add a “Guest Checkout” option. It enables a smooth customer experience and can prompt them to sign up for an account after - should you decide to add the option at the end.
23% struggle to concentrate on a long, complicated checkout process. If it has more than six steps, your checkout is too complicated. Make it short, simple and easy. Keep your shoppers’ attention with a simple progress bar - in case they want to go back a step.
Pro Tip: Offer secure multiple payment options i.e. using a debit/credit card, 1-click payment, PayPal, ApplePay/GooglePay, etc. It makes the process easier, and has customers more willing to complete purchases.
Unclear Return Policies
10% were unhappy with the return policies provided. Shoppers want to have the security of a reliable returns policy. Take time to review your policies. Remember, it’s about making the customer feel comfortable enough to trust your site to get them to the finish line.
Pro Tip: Place a link to your return policy in your checkout process visibly. It shows transparency and encourages your customers to trust your store enough to complete the purchase.
Other Factors Driving Basket Abandonment
Although these are common reasons, it’s important to keep an open mind.
Even if you have improved and optimised the checkout process, customers can still desert checkouts for reasons out of a retailer’s control e.g. a phone call, premature buyers’ remorse or even running to turn off the oven. But all is not lost.
Retargeting through ads and basket emails can be an effective strategy in recapturing those potential sales.
Data Feed Management Can Reduce Basket Abandonment Rates
At Intelligent Reach, we know the answers are in the data. Through effective product data management and optimisation, we integrate with product feeds to visualise, validate and enrich data. Our powerful solution ensures your product listing ads are relevant and effective in the first place, helping reduce basket abandonment. By accurately targeting customers that have abandoned their baskets who are on their next click path, it helps draw them back to the item they were so hesitant over in the first place.
Before plunging your investment straight into recovery strategies, take time to understand the reasons behind customer basket abandonment first. By collecting, analysing and understanding your consumer data, the solution may be simpler and cheaper than a retargeting, recovery tactic. Ultimately, it can give you a better ROI, greater conversions and an increase in profit.
*Updated on 09/11/20
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